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Real Forex, launched in 2008, is an ECN broker domiciled in London, UK. Real Forex is a Non-Dealing Desk Forex broker, and provides trade execution through its ECN trading platform, RealStream FX.
There are three accounts as Real Forex—the Classic, VIP and Institutional accounts. The minimum deposit for the Classic account is $2000. The maximum leverage is 1:200; there are over 30 instruments to choose from and no commission on any trade. The VIP account requires a minimum deposit of $10,000. Leverage is 1:00 and there is a small commission on certain trades. $50,000 is needed to open an Institutional account and leverage can be negotiated.
All the account type gives traders full access to both MetaTrader 4 and the Real Forex proprietary trading platform, RealStream which includes a full chart package, expert advisors help and access to detailed account information.
The minimum initial deposit for a Trading account is $500.
A Free VPS is available for all active accounts. This includes 256 MB dedicated RAM, 10 GB disk space, unlimited bandwidth monthly, remote desktop access and more.
I was pleased to see when doing this Real Forex review that a risk-free demo account could be opened using any of these account. A generous $50,000 in virtual money is assigned. Anyone registering for a demo account receives a free Forex trading course.
Real Forex accommodates automated traders either through ZuluTrade or as a FIX User on the Real Stream platform. And, not surprisingly, Real Forex also caters to technical traders by offering a plethora of charting tools which are based upon the ProRealTime API. Although we didn’t test each tool individually we did note the range and efficiency of the package as a whole.
In addition, ZuluTrade allows traders to follow a merchant or a few selected merchants and duplicate their transactions directly to the trader’s account. Zulu Trade is especially suited for traders who for some reason cannot trade and would like support from successful traders and for dealers who have no time to trade themselves.
ZuluTrade can be used for real or demo accounts and there are no fixed costs, only an extra pip per transaction.
Scalping is allowed at Real Forex and as is Robot trading, which has become the hottest thing in Forex. EA traders and scalpers often rely on robots for executing their trades.
Real Forex offers the new FIX API which can be used to exchange financial data between vendors. This feature allows customers to access market data from over 10 different liquidity provider banks and non-banks.
Real Forex believes in the importance of using new cutting-edge solutions for market participants. As such, it uses the IT-Finance / PROREALTIME service for extensive charting expertise. PROREALTIME provides fast and reliable access to financial markets in real time anywhere any time. Quotes from global financial markets are delivered directly into the trading account. The system generates trading alerts that trigger buy and sell signals and the 70 technical indicators are fully customizable.
Tutorials are available to explain the use of this service as well as other features.
They also offer automated trading for those with advanced experience in binary option trading.
An interesting feature encourages traders to show spreads charged by another broker and receive a better quote from Real Forex.
Real Forex offers several different educational offerings including various tutorials on the best use of some of their trading tools and platforms. They mention news reports and webinars but they are all outdated which is a shame.
What I did find interesting was their ebook on trading strategies which include the Golden Cross Forex Strategy as well as the Forex Shark Strategy. This ebook can only be downloaded for free an opened by Real Forex account holders.
I also liked the full listing of available links offered on their site map.
Free access to logged-in members is also available for their free currency rate table and their daily Forex newsletter which contains valuable information regard the markets, Forex signals, interesting insights, trading strategies and much more. It is summarized and accompanied by illuminating graphs and through explanations.
Daily technical analysis is written by their top analysts that are experienced traders with years of expertise in the market. They use Real Forex’s highly appreciated RSM trading platform for a better trading experience and they offer advice and opinion on the market to help traders improve their trading skills.
Funding for Real Forex accounts can be done with credit and debit cards, wire transfers and various online payment programs such as Skrill and Moneybookers.
Withdrawals are made using the same methods after either filling out an online withdrawal form or contacting a representative in the London office.
Customer support at Real Forex is somewhat behind the times. There is no Chat although clicking on the “contact us” tab which appears on each page opens to an online contact form. Traders can also speak to a representative by phone to their London office or via email. Support of provided 24/7.
The Real Forex website is user-friendly and full of information. Setting up an account is easy and there is a choice of different account types which is not always the case with other Forex brokers. However, one gets the impression when scrolling through the different sections of the site that there is a clear need for some updating. Many sections still post old information and this is disconcerting to say the least.
Review info: Real Forex
Review Date: 2016-10-17
Rating : 3.5
Reviewed By : Sara Patterson (Google+)